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DERIVATIVE INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative assets and liabilities

The following table shows our derivative assets and derivative liabilities. None of the derivatives shown below were designated as hedging instruments.

						March 31, 2025												December 31, 2024
(in millions)						Derivative Assets						Derivative Liabilities						Derivative Assets						Derivative Liabilities
Current
Natural gas contracts						$	78.2					$	4.9					$	29.2					$	13.9
FTRs and TCRs						3.0						—						7.8						—
Total current						81.2						4.9						37.0						13.9
Long-term
Natural gas contracts						7.4						—						4.1						—
Total						$	88.6					$	4.9					$	41.1					$	13.9

Schedule of estimated notional sales volumes and realized gains and losses

Our estimated notional sales volumes and realized gains and losses were as follows:

						Three Months Ended March 31, 2025												Three Months Ended March 31, 2024
(in millions)						Volumes						Gains (Losses)						Volumes						Gains (Losses)
Natural gas contracts						61.5 Dth						$	(1.9)					67.8 Dth						$	(56.9)
FTRs and TCRs						7.4 MWh						1.5						7.6 MWh						1.6
Total												$	(0.4)											$	(55.3)

Schedule of net derivative instruments

The following table shows derivative assets and derivative liabilities if derivative instruments by counterparty were presented net on our balance sheets:

						March 31, 2025												December 31, 2024
(in millions)						Derivative Assets						Derivative Liabilities						Derivative Assets						Derivative Liabilities
Gross amount recognized on the balance sheet						$	88.6					$	4.9					$	41.1					$	13.9
Gross amount not offset on the balance sheet						(48.4)			(1)			(0.6)						(11.5)			(2)			(7.3)
Net amount						$	40.2					$	4.3					$	29.6					$	6.6

(1)Includes cash collateral received of $47.8 million.

(2)Includes cash collateral received of $4.2 million.

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

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- Definition

Tabular disclosure of the amount of the realized gain (loss) and notional volumes for derivative instruments not designated as hedging instruments.

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